Johannesburg - The SOLA Future Energy on Wednesday, welcomed the signing of 27 outstanding Renewable Energy Independent Power Purchase Agreements (REIPPA) as a sign of government's commitment to economic growth and prosperity in South Africa.
Energy Minister Jeff Radebe on Wednesday, signed the 27 agreements, saying that they represented an investment of R56 billion injected by the private sector into the economy with no contribution from government other than the support to Eskom in the event of a default by the buyer.
The outstanding Power Purchase Agreements formed part of the fourth round of REIPPP -- South Africa's world-renowned renewable energy procurement programme.
Radebe said that this will have a positive impact on the economy and competition in the energy sector will certainly benefit the consumer.
Dr Chris Haw, chairman of SOLA Future Energy, said that this was a long time coming.